Bajaj Auto Ltd. has commenced its Rs 2,500 crore share buyback.
At its meeting held on June 27, the company's board approved a proposal to buy back fully paid-up equity shares of face value of Rs 10 each from existing shareholders -- except promoters and promoter group -- in the open market. The buyback will be carried out at a price not exceeding Rs 4,600/share and for an aggregate amount of Rs 2,500 crore.
The buyback is equivalent to 9.61% of the total paid-up share capital.
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